Jefferies Starts Oclaro (OCLR) at Buy
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Jefferies initiates coverage on Oclaro (NASDAQ: OCLR) with a Buy rating and a price target of $11.25.
Analyst James Kisner commented, "We believe OCLR will likely benefit from strong demand over the next couple of years driven by multiple secular drivers, including: 1) Verizon's metro 100G deployment in the US; 2) China's network buildouts; and 3) robust growth within and between data centers at Web 2.0/hyperscale companies."
Shares of Oclaro closed at $8.55 yesterday.
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